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OpenAI reportedly raises $11 billion so far at a $1.25 trillion valuation

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OpenAI has reportedly raised $11 billion so far in a new funding round that values the AI lab at $1.25 trillion. The report comes from Bloomberg, which published it on Friday and cited sources familiar with the matter. TechCrunch relays it and says it has asked OpenAI for comment; it will update its story if the company responds.

The $11 billion is only part of a larger round that has not closed. According to Bloomberg, the round is expected to close in the coming weeks and could total about $20 billion, a figure a source gave the outlet.

That would fall well short of the earlier target. In late September, Bloomberg reported that OpenAI was looking to raise $30 billion in the upcoming round. TechCrunch notes that the current figures fall well short of that.

The news came only hours after another Bloomberg report, this one on OpenAI's chief competitor, Anthropic. Potential buyers of shares in Anthropic's IPO are reportedly eyeing a substantially lower valuation than Anthropic had targeted. Some of them believe the valuation could be as low as $1.1 trillion, against the $2 trillion investors were said to be expecting roughly a month ago.

TechCrunch also recalls that OpenAI previously intimated it would go public this year but delayed its plans, and that there are expectations of an IPO next year at some point. It describes the AI market as being in a particularly precarious place: the Democratic landslide in the U.S. midterms and overwhelmingly negative voter sentiment around data centers have caused jitters across the market, with many anticipating potential regulatory challenges ahead.

Key facts

  • Bloomberg, citing sources, reports OpenAI has raised $11 billion so far in a new round that values it at $1.25 trillion.
  • The round has not closed; it is expected to close in the coming weeks and could total about $20 billion, per a source of Bloomberg.
  • In late September Bloomberg reported OpenAI was seeking $30 billion, so the current figures fall well short of that target.
  • Separately, Bloomberg says some potential buyers of Anthropic IPO shares think its valuation could be as low as $1.1 trillion, versus the $2 trillion investors were said to expect about a month ago.
  • OpenAI has not confirmed the report; TechCrunch has asked for comment.

Why it matters

A $1.25 trillion valuation puts a number on how investors currently price OpenAI. The amount raised so far, and the possible $20 billion total, sit well below the $30 billion Bloomberg said in September that OpenAI wanted. The story also lands next to a report that buyers of Anthropic's IPO shares are eyeing a valuation as low as $1.1 trillion, compared with the $2 trillion expected about a month earlier. TechCrunch frames both against a market it calls precarious, shaken by the Democratic landslide in the U.S. midterms and negative voter sentiment about data centers.

Who it affects

OpenAI and the investors in this round are the direct parties; the source does not name the investors. Anthropic and the potential buyers of its IPO shares are affected by the parallel valuation report. The wider AI market is also in the frame, since TechCrunch says the midterm result and data-center sentiment have unsettled it and that many expect regulatory challenges.

How to use it

There is nothing to adopt or configure here; it is a funding report. Readers tracking the sector can watch for three things named in the story: whether the round closes in the coming weeks, what total it reaches against the roughly $20 billion mentioned, and whether OpenAI responds to TechCrunch's request for comment. Also watch for any OpenAI IPO next year.

How solid is it

Moderately. The figures come from Bloomberg's anonymous sources, and TechCrunch only relays them; OpenAI has not commented. The $11 billion is described as raised so far, and the $20 billion total is a possibility from one source ('could total'), not a confirmed number. The source does not say whether $1.25 trillion is a pre-money or post-money figure. The Anthropic numbers are what some potential buyers believe, not a completed deal.

Risks and caveats

The round is still open, so the final size and terms could differ from what is reported. The $30 billion target dates from a late-September Bloomberg report and may not reflect current plans. OpenAI's IPO timing is loose: it delayed this year's plans, and the source only says expectations point to next year at some point. TechCrunch's remarks on the political climate and regulatory worries are its own assessment of the market, not facts about this round.